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Insurance

July - September 2015

Australia’s insurance market remains candidate short, and recent storm damage and floods in certain states have only fuelled high demand for temporary staff across claims and investigation.

Larger insurance firms have told us they intend to increase headcounts provided income earning reviews are positive.

Vacancy activity at the senior level remains positive, with a focus on securing top talent in permanent roles due to the shortage of available candidates. Job security is very important in order to attract top tier candidates.

When they recruit, employers are placing a larger focus on computer and software skills as well as multi-division experience.

In other trends, senior brokers with claims operations experience are sought as lower tier and insurance focused firms are looking for senior staff to have a higher level of involvement in the overall company’s earnings.

Finally we’ve seen a recent increase in the overall involvement of the Big 4 in the insurance market.

In terms of skills in demand for the July to September 2015 quarter, we’re seeing a huge demand for Claims Officers in lodgements. Many locations in Australia have experienced storm events. This has led to an influx of claims being registered, predominantly across residential and commercial property as well as vehicle. This has put pressure on large insurance companies and providers to increase their lodgement teams to ensure that claims are still handled within service level agreement times.

Life insurance Claims Assessors are another area of demand. Life insurance has been a buoyant area for some time. Consumers are increasingly aware of the benefits covered by life insurance products, especially disability benefits offered within their superannuation fund. This has challenged more traditional products and as a result insurers are increasing their range of policy types and variations, reward programs and payment options. This is in turn creating staffing needs.

Superannuation Administrators are needed in response to various changes in superannuation legislation. One of these is the SuperStream project aimed at improving the efficiency of the superannuation system. Under SuperStream, employers must make super contributions on behalf of their employees by submitting data and payments electronically in a consistent and simplified manner. Payments in other forms, such as cheque, will no longer be accepted. Understandably, the introduction of this new method has increased staff requirements to ensure a smooth transition.

Brokers (sales) are also sought in response to an increase in wealth and insurance broker recruitment. There is an ongoing thirst from employers to increase headcount for this new financial year and also to be a strong competitor in the insurance provisioned market.

Distribution Managers and Distribution Operations Managers are also sought. Employers want to strengthen their state management and broker management channels.

In terms of candidate trends, more candidates are interested in future possibilities but their salary expectations are higher due to their awareness that their skills are in high demand.

 

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